Henderson Global Investors hired JPMorgan Hedge Fund Services to handle middle- and back-office activities for Henderson's combined $2 billion in 14 hedge funds. "We believe the outsourced administration market is now mature enough for us to make a change in the way we administer these highly complex products," Shirley Garrood, Henderson's chief operating officer, said in a news release. "Our aim was to find a sustainable solution for a fast-growing part of our business which allows us to build and launch new funds quickly into the market." Ms. Garrood was unavailable at press time for further comment.
Separately, Eila M. Matt was named Henderson's managing director, marketing the firm's hedge funds to North American clients. She will be based in New York. Ms. Matt was managing director at Ritchie Capital Management, responsible for marketing and client servicing. Officials at Ritchie Capital could not be reached by press time for information on Ms. Matt's replacement. Henderson manages $620 million in hedge funds for U.S. clients, said spokesman Richard Acworth.